According to court papers filed by Asarco LLC, Group Mexico SAB, Mexico’s leading mining company, may lose control of Southern Copper Corp. under a ruling issued by a U.S. judge last week. Analyst Rodrigo Heredia, with Ixe Casa de Bolsa SA in Mexico City, stated: There are some indications this could end positively for Grupo [...]
Grupo Mexico announced that it will study a U.S. federal judge’s ruling ordering its subsidiary Americas Mining Corporation return 260,093,694 shares of Southern Copper Corporation stock, worth $4.68 billion and pay $1.35 billion in monetary damages to Asarco. For full story, click here
The Chilean peso closed firmer against the U.S. dollar Thursday on the gains in the Dow Jones Industrial Average and other U.S. markets as well as on surging copper prices. For full story, click here
U.S. Silver Corporation announced its consolidated financial results for the third quarter ended September 30, 2008. For full story, click here
U.S. copper futures rallied more than 7 percent early Friday, buoyed by rebounds in global equity markets and follow-through strength in the broader commodity complex. For full story, click here
Copper prices and stocks got a boost with China’s announcement of a $600 bn stimulus package geared toward construction and infrastructure projects. For full story, click here
U.S. copper futures came back to a slightly firmer finish after key technical support held near the late-October lows. For full story, click here
U.S. copper futures may cheapen to $1.50 per lb, a level unseen in over 3years, as the global economic outlook weakens, but technical support could lend the market some sporadic price hikes in the near term. For full story, click here
London copper lost its 1.75 percent gain after the US Senate approved the $700 billion financial plan. Copper fell $12 to $6,148 a tonne. Copper is up from its Wednesday low of $6,120, the lowest since March 2007. In base metals the market is looking very heavy … and there is a growing chance that [...]
Copper was at an eight month low with investors concerned that global financial instability would impact demand. Analyst, Leon Westgate, of Standard Bank noted further liquidation to be expected. All markets are linked to each other which makes things like Lehman going under much more worrying — you wonder where the next weak link in [...]
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